M&A

M&A

Adani Group’s Dubai arm acquires French co Le Marche Duty Free for EUR 5,000

Mint  

Adani Enterprises’ Dubai-based arm, Ospree International FZCO, has acquired 100% stake in France-based Le Marche Duty Free SAS (LMDF) for 5,000 euros (about USD 5,449). The move aims to bolster the group's growth within the duty-free industry in alignment with the expansion goals of Mumbai Travel Retail Pvt Ltd, owned by Adani Airport.LMDF, established on February 7, 2024, is owned by Atul Ahuja, the promoter of the Flemingo Group. However, operational activities have not yet commenced.In November 2023, the Adani Group announced its plans to venture into the duty-free industry. This expansion involved the establishment of a wholly-owned subsidiary, MTRPL Macau Ltd, in Macau, aimed at establishing duty-free shops at the Macau International Airport.